Iran Releases Greek-Owned Tanker's Oil Cargo After Negotiations

Iran has released the oil cargo of a Greek-owned tanker it seized in the Gulf of Oman earlier this year. The M/T St. Nikolas, loaded with 1 million barrels of Iraqi crude oil, remains held by Iran. The move follows negotiations after the seizure in retaliation for an incident last year involving the U.S.

Iran has released the oil cargo of a Greek-owned, Marshall Islands-flagged tanker it seized in the Gulf of Oman earlier this year, a shipping source told Reuters on Thursday.

The vessel, M/T St. Nikolas, remains in Iranian custody, according to the source. The ship was carrying 1 million barrels of Iraqi crude oil destined for Turkey at the time of its seizure. "The cargo was released earlier this week after negotiations," the source revealed.

In January, Iran seized the tanker in what was described as retaliation for the U.S. confiscation of the same vessel and its oil last year, according to Iranian state media. Both Iran's Foreign and Oil ministries have not commented on the release.

(With inputs from agencies.)